Frequently individuals ask, can furnishers change credit bureau history? Well to answer this question first you must understand what a furnisher is and how that has anything to do with a credit bureau!
First, a furnisher, or "data furnisher", provides the credit bureau with the necessary information to report your credit history. These furnishers are typically creditors, utility companies, lenders, debt agencies, and courts. These data furnishers typically report your payment history on a monthly basis to the credit bureaus. The major three credit bureaus are Transunion, Equifax, and Experian.
So, for example every time you make a monthly payment on a mortgage, auto loan, credit card, utility payment, etc. The payee may report your history of payments to the credit bureau. Remember, reporting happens typically on a monthly basis (cycles may vary). So a furnisher will typically report monthly to the credit bureau.
So back to the question, can furnishers change credit bureau history? Typically if a furnisher has reported inaccurately you can dispute the item on your credit file with the appropriate credit bureau. This begins the process of an investigation. The credit bureau will then contact the furnisher to verify the history, if there was an inaccuracy those will typically be resolved through this process.
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